Taiwan Mobile (3045) Q3 2025 earnings summary

Executive summary

• Mobile, broadband, and New Tech (Telco+Tech) businesses delivered strong top-line momentum in Q3 2025, with 5G and broadband as key drivers.

• Net income declined 13% year-over-year, but increased 3% excluding one-off gains.

• Consolidated financial statements for the nine months ended September 30, 2025, were reviewed with no material misstatements.

• Disciplined cost management and proprietary Telco+Tech offerings are expected to sustain earnings growth.

• The group completed a merger with Taiwan Star Telecom in December 2023, expanding licensed spectrum holdings.

Financial highlights

• Telecom revenue grew 2% year-over-year, accounting for 46% of consolidated revenue.

• EBITDA for 3Q25 was NT$10.63bn, up 1% year-over-year; telecom EBITDA rose 5% year-over-year.

• Net profit for the nine months ended September 30, 2025 was NT$11,758 million, compared to NT$11,710 million in the prior year.

• Free cash flow for the first three quarters rose 7% year-over-year to TWD 14.8 billion, with an annualized free cash flow yield of 6%.

• Basic EPS for the nine months ended September 30, 2025 was NT$3.49, up from NT$3.43 year-over-year.

Outlook and guidance

• Constructive market dynamics and disciplined cost management are expected to sustain telecom earnings growth.

• Proprietary Telco+Tech offerings and solution-driven businesses are anticipated to generate solid free cash flow and support healthy dividend distribution.

• The group is assessing the impact of new IFRS standards effective from 2026 and 2027.